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    Finland's Finance Minister Alexander Stubb speaks with the media after a meeting of eurogroup finance ministers at the EU LEX building in Brussels on Wednesday, June 24, 2015

    No Extension of Greek Bailout Program - Finnish Finance Minister

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    Greece's Gordian Knot: Syriza Tackles Austerity (404)
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    The Eurogroup will not extend the bailout program for Greece, Finnish Finance Minister Alexander Stubb said Saturday.

    MOSCOW (Sputnik) — The extraordinary meeting of the European finance ministers on the Greek debt crisis is currently underway in Brussels.

    "An extension of the [Greek] program is out of the question," Stubb said upon his arrival in Brussels, adding that there is a "consensus" on the issue.

    Earlier in the day, the Greek government announced a national referendum on July 5 to decide whether to accept an accord for a new bailout with its creditors.

    Stubb added that the proposed referendum would block further negotiations between Greece and the Eurogroup.

    Athens and its major international creditors, including the International Monetary Fund (IMF), the European Union countries and the European Central Bank (ECB) are due to agree until Tuesday an additional financial aid package for Greece before the June 30 deadline of the current bailout program expires.

    The same day, Greece must deliver the $1.7-billion payment to the IMF. If Athens fails to do so, it may default and exit eurozone.

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    Greece's Gordian Knot: Syriza Tackles Austerity (404)

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    Tags:
    prison bail, debt, Eurozone, Alexander Stubb, Greece, Finland
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